Hexcel Corporation (HXL) Stock Rating Reaffirmed by Canaccord Genuity
Hexcel Corporation (NYSE:HXL)‘s stock had its “hold” rating reissued by research analysts at Canaccord Genuity in a note issued to investors on Tuesday. They currently have a $62.00 price objective on the aerospace company’s stock. Canaccord Genuity’s price objective points to a potential upside of 4.15% from the company’s current price.
The analysts wrote, “We spent a day on the road with Hexcel (HXL) management. The focus for HXL remains on the commercial OE cycle, and the cash conversion as build rates, notably on the new platforms (A350, 787, A320neo and 737 MAX) accelerate. HXL remains on track to hit its long-term FCF and revenue targets, and the recent move in the stock largely reflects the improved sentiment around the commercial cycle, bolstered by the 787- rate increase to 14/month, strong traffic, and renewed order activity, notably for Boeing. While HXL remains one of the best executing stocks in our universe, and we appreciate the straight-forward guidance and outlook, we are looking potential catalysts that can provide additional upside or improved sentiment. We are maintaining our HOLD rating and our $62 price target.””
Several other brokerages have also recently commented on HXL. Loop Capital began coverage on shares of Hexcel Corporation in a research report on Thursday, September 28th. They set a “hold” rating and a $61.00 price target on the stock. BidaskClub cut shares of Hexcel Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and set a $57.00 price target on shares of Hexcel Corporation in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Hexcel Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $50.00 price target on shares of Hexcel Corporation in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.00.
Shares of Hexcel Corporation (HXL) opened at $59.53 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.58. Hexcel Corporation has a 12-month low of $47.98 and a 12-month high of $63.93. The firm has a market cap of $5,394.02, a price-to-earnings ratio of 22.92, a P/E/G ratio of 2.83 and a beta of 1.10.
Hexcel Corporation (NYSE:HXL) last posted its quarterly earnings data on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $491.50 million during the quarter, compared to analysts’ expectations of $507.77 million. Hexcel Corporation had a net margin of 13.13% and a return on equity of 18.40%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. analysts anticipate that Hexcel Corporation will post 2.68 earnings per share for the current year.
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In other news, SVP Kimberly A. Hendricks sold 2,608 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $63.35, for a total value of $165,216.80. Following the completion of the transaction, the senior vice president now directly owns 22,221 shares in the company, valued at $1,407,700.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thierry Merlot sold 3,748 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $61.19, for a total transaction of $229,340.12. Following the completion of the transaction, the insider now owns 13,691 shares of the company’s stock, valued at $837,752.29. The disclosure for this sale can be found here. Insiders sold 13,304 shares of company stock worth $823,040 in the last 90 days. 2.10% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Hexcel Corporation by 5.0% during the second quarter. BlackRock Inc. now owns 4,924,139 shares of the aerospace company’s stock worth $259,946,000 after buying an additional 233,521 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in Hexcel Corporation by 6.6% during the second quarter. Epoch Investment Partners Inc. now owns 3,246,155 shares of the aerospace company’s stock worth $171,365,000 after buying an additional 199,893 shares in the last quarter. Broad Run Investment Management LLC boosted its holdings in Hexcel Corporation by 1.0% during the second quarter. Broad Run Investment Management LLC now owns 2,980,460 shares of the aerospace company’s stock worth $157,338,000 after buying an additional 28,991 shares in the last quarter. Earnest Partners LLC boosted its holdings in Hexcel Corporation by 0.7% during the third quarter. Earnest Partners LLC now owns 2,806,392 shares of the aerospace company’s stock worth $161,143,000 after buying an additional 18,602 shares in the last quarter. Finally, State Street Corp boosted its holdings in Hexcel Corporation by 7.8% during the second quarter. State Street Corp now owns 2,325,125 shares of the aerospace company’s stock worth $122,742,000 after buying an additional 169,088 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.
About Hexcel Corporation
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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